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A company law appeals court on Monday rejected a challenge by mining billionaire Anil Agarwal’s Vedanta Ltd to the winning bid by Gautam Adani’s group for bankrupt real estate firm Jaiprakash Associates Ltd (JAL), whose assets include India’s only Formula One circuit. The National Company Law Appellate Tribunal (NCLAT) did not find merit in the…
Business conglomerate Vedanta Group has approached the National Company Law Appellate Tribunal (NCLAT), challenging the NCLT’s approval to Adani Group‘s bid for acquiring Jaiprakash Associates Ltd for Rs 14,535 crore. Anil Agarwal-led Vedanta Group was in the race to acquire Jaiprakash Associates Ltd (JAL) through an insolvency process, but the lenders in November last year…
NEW DELHI: The Supreme Court on Tuesday asked the National Company Law Appellate Tribunal (NCLAT) to decide afresh whether it is necessary for the Competition Commission of India (CCI) to probe a 2018 complaint accusing e-commerce major Flipkart of abuse of its market dominant position.Taking up an appeal by Flipkart against a March 4, 2020,…
The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of…
New Delhi: Amid increasing delays, the select committee of Parliament examining the bill to amend the Insolvency & Bankruptcy Code has recommended that The National Company Law Appellate Tribunal (NCLAT) should dispose of appeals within three months of their receipt.“…IBC presently does not prescribe any statutory timelines for the disposal of appeals by NCLAT. This…
The CJI said he had sought a report from NCLAT judicial member Justice Sharad Kumar Sharma who had startled everyone by disclosing in open court on Aug 13 that “one of the most revered members of the higher judiciary of this country” had approached him to secure a favourable order and recused himself from hearing…
NEW DELHI: Supreme Court on Friday took serious view of an alleged attempt by a “revered member of the higher judiciary” to influence a judicial member of the National Company Law Appellate Tribunal (NCLAT), Chennai, and said the matter will be dealt with appropriately on the administrative side by CJI B R Gavai.Hours after the…
The National Company Law Appellate Tribunal (NCLAT) has ruled that the Competition Commission of India (CCI) does not have the power to investigate disputes related to patented products, holding that the Patent Act takes precedence over the Competition Act in such cases, PTI reported.Dismissing an appeal against a CCI order that had closed a complaint…
